Economic slowdowns in China, India and Russia entrenched -OECD

PARIS, Sept 13

PARIS, Sept 13 The slowdown in leading emerging
market economies China, India and Russia will persist over the
coming quarters, while the outlook for the euro zone remains
weak, the OECD said on Thursday.

The Paris-based economic think-tank said its composite
leading indicator for China held steady in July from June at
99.1, a rate consistent with an economic slowdown and below the
long-term average of 100.

The indicator for India also remained stable but at the even
lower level of 98.1, while Russia's index dropped to 99.1, from
99.6 in June.

Developed countries will also continue to struggle in the
coming quarters, said the OECD, which last week cut its growth
forecasts for most countries in the Group of Seven developed
economies, saying that the euro zone's debt crisis had spread to
the region's core. {ID:nL6E8K5JHZ]

"Composite leading indicators, designed to anticipate
turning points in economic activity relative to trend, show that
the loss of momentum is likely to persist in the coming quarters
in most major OECD and non-OECD economies," the OECD said a
statement.

The indicator for the United States, dipped to 100.8 from
100.9. The euro zone reading remained well below the 100 mark,
edging down to 99.4 from 99.5, while among the large euro zone
economies Italy fared poorest, slipping to 98.8 from 98.9.

In its latest update, the OECD said its indicator for the
Group of Seven large industrialized economies came in steady at
100.3 in July while the aggregate reading for the mostly
industrialized group of OECD member countries dipped to 100.2
from 100.3.
(Reporting by Leigh Thomas; Editing by Susan Fenton)

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